Agribusiness is an all-encompassing term used to describe every food item that’s raised, grown, caught or harvested then processed, polished and refined for sale locally or globally in true ‘paddockto-plate’ fashion.
It’s a complex and challenging business where everything from wild weather to commodity price crashes can derail monthly cashflow. Despite everything, Kiwis jealously guard their reputation for clean, green food and continue to be world leaders in many areas of supply in the food chain.
Behind every growing agribusiness is strong financial backing in the form of a good agribusiness bank. In New Zealand, a number of banks offer products and services designed exclusively for the farming and associated sectors. The requirements for these businesses differ markedly from the retail banking ‘city folks’ are used to. Comparing banks for agribusiness entails more than just comparing stand-alone products. Relationship managers, branches, online banking, specialty products, realtime industry insights and educational material are all important to those involved whether at the farm gate or the processing plant.
CANSTAR’s annual comparison of what the banks offer their agri customers will hopefully give you the information you need to make the best choice for your business.